Litigation

Bank This...It Ain't Maundy Money- Mundy

By John Darer

Bill Spencer of ABC Television WXYZ-Channel 7  Action News Financial Survival Team in Detroit says "Don't Give your Settlement Away", structured settlements that is!

The segment includes an interview with Troy financial adviser Michael Mundy of AXA Advisors who states " too many people in this economy are selling their structured settlements (for pennies on the dollar) so that they can get badly needed cash right now something he calls incredibly foolish".

If you need money now , Mundy suggests going to "any bank" and using the structured settlement payments as income to show an ability to repay. After all aren't these structured settlement payments secure enough for the cash now pushers and the investors who buy the payment streams that annuitants might want to sell? But with tightened credit it is easier said than done.

Structured settlement annuitants who find themselves in need of cash should work with an independent financial adviser who can help them explore all options, BEFORE deciding to get in bed with a cash now pusher.

Click here to view the video, the play button is on the top right of the linked web page.

Full post as published by Structured Settlements 4Real on February 09, 2009 (boomark / email).